Healthcare industry

Part
01
of six
Part
01

Healthcare Employee Training and Certification Services Sector

The top four companies that offer healthcare professional education and training are Zimmer Biomet, Stryker, Johnson and Johnson, and GE Healthcare.

The Global Health Education Solutions Market

1. GE HealthCare


2. zimmer Biomet


3. Stryker


4. Johnson and Johnson

  • Johnson and Johnson's revenue by segment in 2017 were as follows: (Consumer) $13.6 billion, (Pharmaceutical) $36.3 billion, and (Medical Devices) $26.6 billion.
  • Johnson and Johnson Institute offers C-SATS which provides surgeons with "objective case reviews and personalize coaching."
  • The online learning specialties include bariatric, bleeding management, breast, cardiology and electrophysiology, colorectal, craniomaxillofacial, foot and ankle, and gynecology.
  • They have training facilities in Cincinnati, Ohio, Irvine, California, Jacksonville, Florida, Palm Beach Gardens, Florida, Raynham, Massachusetts, Somerville, New Jersey, and West Chester, Pennsylvania.
  • Johnson and Johnson's pricing structure is not publicly available.
  • Johnson and Johnson's email for information and inquiries: JnJInstitute@its.jnj.com.

Research Strategy:

The research process began with a search for the top 4-5 companies who offer training and certification for healthcare employees. We defined top as companies in this space with the largest market share and projected growth. After determining the top four companies who provide healthcare employees with training and certification, we used their websites to provide information on their brand presence, and the services they offer, the size of the company/market share, and pricing structure. Unfortunately, because these are private institutions, the pricing information was not found for any of the company's education and training products and services. In looking for these pricing structures, we first searched the company's education and training pages for the information and this information was not found. Next, we looked for this information using informational pages for prospective students. However, each company suggests contacting them for pricing information. We also conducted a broader web search for any articles that have published information for any of the companies' cost of education or pricing structure. In order to determine the best pricing information for individual situations, we have provided each company's contact information.
Part
02
of six
Part
02

Healthcare Facility Inspection Readiness Preparation/Consulting Sector

Consulting.com and IBIS World are two entities that track consulting firms and the healthcare consulting market, respectively. According to data from these organizations, four of the top companies in the healthcare facility consulting services sector are Accenture, Deloitte, Advisory Board, and Huron Consulting Group.

ACCENTURE

  • Though Accenture consults in many industries, one of its largest areas of activity is healthcare consulting. Accenture's consulting is based on “Insight Driven Health,” which it implements to help its clients improve their services through the use of empirical (i.e., real-world and clinical-based) evidence.
  • Accenture offers General Healthcare consulting, Operational Transformation, and Consumer Experience consulting. However, information concerning their pricing structure for these services was not publicly available.
  • At the close of fiscal year 2018, the Accenture employed 477,000 individuals and had revenue of $41 billion. According to older data from Modern Healthcare, Accenture’s healthcare segment had 2014 revenue of $1.06 billion.

Deloitte

  • Deloitte offers numerous services within the Life Sciences and healthcare industries. Deloitte’s consulting work focuses on improving revenue cycles and physician networks, as well as optimizing healthcare delivery overall.
  • The company emphasizes the role of technology in changing the healthcare field; Deloitte works closely with its clients to stay ahead of the technological curve. Additionally, Deloitte provides its clients with audit preparation services.
  • Deloitte provides pricing information for its services through inquiry.
  • At the close of fiscal year 2018, Deloitte employed 94,637 individuals and had revenue of $19.9 billion. According to older data from Modern Healthcare, Deloitte’s healthcare segment had 2014 revenue of $2.18 billion.

Advisory Board

  • Advisory Board’s approach to consulting relies heavily on the work of its internal research department. Much of the company’s consulting work involves studies conducted by the department to offer the best advice to their client.
  • Advisory Board’s healthcare consulting services include Overall Strategy, Care Delivery, and Operations. Additionally, the company uses a "membership model" for communication with its clients.
  • However, there is no information publicly available on how much Advisory Board’s services cost.
  • According to the latest SEC filing data (via Owler), Advisory Board had 3800 total employees; the latest data from Consulting.com indicates Advisory Board had revenue of $781.8 million. According to older data from Modern Healthcare, Advisory Board’s healthcare segment had 2014 revenue of $574.2 million.

Huron Consulting Group

  • Huron Consulting Group’s healthcare consulting operates alongside academic centers, medical advisory groups, hospitals, healthcare systems, and government organizations. The company does this to maintain the most pertinent and up-to-date information for their consulting work.
  • Huron Consulting Group claims healthcare consulting expertise in the areas of Strategy and Innovation, Care Transformation, Finances and Operations, Technology and Analytics, Leadership, and Valuation. However, potential customers must make an inquiry for the pricing of Huron Consulting Group’s services.
  • According to Forbes, Huron Consulting Group has 2671 employees and revenue of $699.3 million as of March 2019. According to older data from Modern Healthcare, Huron Consulting Group’s healthcare segment had 2014 revenue of $554.4 million.

Research Strategy:

We began our inquiry by first determining which companies could be considered top within the healthcare consulting industry. To make this determination, we employed the use of market research sites, annual report databases, and industry studies. This line of inquiry allowed us to create a strong overview of the healthcare consulting market (its history and present state); this overview allowed us to construct a plausible list of currently leading firms.

The first studies we used to identify the top companies were older studies provided by Modern Healthcare. Though outside of our preferred range for timely references, we utilized the data in this research for two reasons. The first reason is that the data provide information on consulting firms by their healthcare segment revenue. The second reason is that other, more recent sources are not publicly available (i.e., located behind paywalls). We then used that data in conjunction with more recent data from Consulting.com and IBIS World. By correlating the data, we were able to identify these four companies as top based on their historical ranking, their 2018 revenue, and their current prominence in the market.
Part
03
of six
Part
03

Healthcare Preventative Equipment Maintenance/Testing Services Sector

The top companies in the healthcare preventative equipment maintenance or testing service sector in the United States are Siemens Healthineers, GE Healthcare, Canon Medical Systems, and Carestream Healthcare.

SIEMENS HEALTHINEERS

  • Siemens Healthineers provides enterprise services, value partnerships, equipment optimization and maintenance services, consultation and implementation services, service advantage, healthcare financing, education, workforce, healthcare IT, options and upgrade, and laboratory diagnostic services.
  • Siemens Healthineers' equipment optimization and maintenance services include: Full Coverage Service Plans (e.g., signature, performance and proactive plans), Shared Service and Support (e.g., share360, technical service training, and webshop), and System Performance and Productivity Services (e.g., guardian program, evolve program, ACR accreditation and application, and training support).
  • The company also offers Connect Platforms such as smart remote services, LifeNet, team play, and PEPconnect.
  • IT care plans, virus protection, IT standards, advanced imaging, and laboratory diagnostics IT are its software support services.
  • Siemens provides enterprise service solutions, including asset management services, performance improvement services, and multi-vendor services.
  • Its laboratory diagnostics services include laboratory diagnostics documentary library, laboratory diagnostics documentary (online), and laboratory diagnostics (business consulting service), among others.
  • Siemens Healthineers has over 10,000 employees.
  • Its revenue for 2018 was (13.4 billion Euros) $15.2 Billion.

GE HEALTHCARE

  • GE Healthcare offers digital solutions, clinical network solutions, healthcare technology management, support documentation library, service agreements, service shop, service segments, medical affairs, and service enablers.
  • Its healthcare technology management services consist of three core areas, which are Innovation & Sustainability, Service Model Optimization, and Integrated Asset Optimization.
  • The average price for GE Healthcare's equipment is $30, 257.
  • GE Healthcare's revenue in 2018 was $19 Billion.
  • GE Healthcare operates in more than 60 nations around the world.

CARESTREAM

  • The services and support supplied by Carestream include federal government solutions, customer commitment, smart services, customer success network, cybersecurity and privacy, and resources.
  • They also provide services in digital radiography systems, extremity CT, healthcare information technology, computed radiography systems, motion mobile x-ray systems, analog X-ray systems, fluoroscopy, printing systems, Q-Rad systems, managed print solutions, film systems, and radiography software.
  • Carestream's smart services include smart staff, smart support, smart planning, and smart options.
  • Carestream delivers product security that assists with EU, PIPEDA, HIPAA.
  • The company has locations in Africa, Asia Pacific, Europe, the Middle East, North America, and South America.
  • Carestream Healthcare employs about 10,000 individuals.
  • Carestream's 2018 revenue was $1.8 Billion.

CANON MEDICAL SYSTEMS


Research Strategy:

Our research began by searching for media articles, press releases, and news reports from Forbes, CNN, and Financial Times, among others for information on the top companies in the healthcare preventative equipment maintenance/testing services sector in the United States. However, this search did not yield favorable responses concerning the specified industry.

Afterward, we examined industry market reports from IBIS world, Market Watch, and Zion Market Research addressing the healthcare preventative equipment maintenance service sector hoping to locate the key players. On Zion Market Research, we came across a 2018 analysis market report mentioning the players in the global healthcare preventative equipment maintenance sector. Some of the global key players were Siemens Healthineer, GE Healthcare, Carestream, and Canon Medical Systems. Nonetheless, we could not find a report on the companies in the healthcare preventative equipment maintenance services sector within the United States specifically.

Therefore, we performed an in-depth search on the geographical location of the companies (key players) mentioned in the Zion Market Research report. We discovered that some companies listed in the report are U.S.-based. We then assumed that since these establishments are in the United States, they must be the top businesses within the healthcare preventative equipment maintenance services sector in the country.

Part
04
of six
Part
04

Healthcare Biohazard Waste Management Services Sector

Stericycle Inc, Republic Services, Clean Harbor and Sharp Compliance Inc are the top US companies in the medical waste management services sector. Of the companies, Republic Services has the largest market share of 0.68% and Sharps Compliance has the least market share of 0.003%.

Findings

  • According to market reports by MarketsandMarkets, the global medical waste management industry is valued at $14.827 billion in 2018.
  • The market is projected to grow at a CAGR of 4.09% to reach $18.854 billion in 2024.

Stericycle

  • Stericycle provides waste services, compliance solutions to the healthcare, retail and commercial businesses in the US and globally. The company collects and processes regulated and specialized waste for disposal services and also deals in the collection and destruction of personal and confidential information. Stericycle services include medical waste disposal, pharmaceutical waste disposal, hazardous waste management, sustainability solutions for expired or unused inventory, secure information destruction of documents and e-media etc. The company serves healthcare businesses, including hospitals, physician and dental practices, outpatient clinics, long-term care facilities, etc.; retailers and manufacturers; financial and professional service providers.
  • Market Share: 0.24%

Clean Harbors Inc

  • Clean Harbors Inc provides energy, industrial and environmental services, the company environmental services include collection, transportation, treatment and disposal of hazardous and non-hazardous wastes. They also deal in the resource recovery, physical treatment, incineration, landfill disposal, wastewater treatment, lab chemical disposals and disposal of household hazardous wastes. It also provides industrial maintenance and specialty industrial services and utilizes specialty equipment that performs field services.
  • Pricing: The price list for Clean Harbors can be found here.
  • Market share: 0.22%

Sharps Compliance Inc

  • Sharps Compliance provides waste management services which include medical, pharmaceutical and hazardous waste management. The company provides a cost-effective, convenient and environmentally-sensitive solutions for the proper management of medical waste and used healthcare products; as well as unused and expired patient-dispensed pharmaceuticals and over-the-counter medications. Through its MedSafe collection receptacle, the company provides a simple solution for safe and easy disposal of unused medications, including controlled substances and the Sharps Recovery Systems provide a sharps container and a prepaid, USPS-authorized mailback box to properly dispose of sharps and other small quantities of medical waste.
  • Market share: 0.003%

Republic Services, Inc

  • Republic Services Inc provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States. Its services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of a compactor. The company is also involved in the processing and sale of old corrugated containers, old newsprint, aluminum, glass, and other materials; temporary waste and recycling collection services; and provision of landfill services.
  • Pricing: The price listing for Kent can be found here, the pricing information varies by location and can be checked here.
  • Market share: 0.68%

Research Strategy

In order to identify the top US companies in the medical waste management industry, we began by searching for the key players in the industry, we were able to locate the information from market report sources Alliedmarketresearch and researchandmarkets.com but the information wasn't just for the US but on a global scale. We narrowed the key players found in the market reports by searching for US-based companies among the key players mentioned in the report. Using this strategy, we identified Stericycle, Republic Services Inc, Sharps Compliance Inc and Clean Harbor as the global key leaders based in the US.

We tried to locate the US market size of the industry but unfortunately, this wasn't possible after combing through market reports by Wiseguyreports, MarketsandMarkets, IBISWorld, Technavio, Transparency market research, Grandview Research among others and media sites such as PRNewswire, Reuters, Globe news etc. There wasn't a breakdown of the market by regions by any of the mentioned sources as all recent information on the market size was on a global scale and a breakdown by region which includes the US was only available behind a paywall.

We made an assumption that since these US companies are key global leaders in the market, they can also be considered leaders in the US market and we used them in providing the required information in our research.

Due to the unavailability of the market share of the companies as they are also behind a paywall, we decided to triangulate the information by following the steps outlined below.

Calculation

To calculate the market share of the companies in the medical waste management sector, we divide the revenues of each company for FY 2018 by the total market size of the industry in 2018.
2018 Waste Management market size: $14.827 billion

Stericycle

2018 Revenue = $3.486 billion
Market share = 3,486,000,000/14,827,000,000 = 0.24%

Clean Harbor

2018 Revenue = $3.3 billion
Market share = 3,300,000,000/14,827,000,000 = 0.22%

Sharps Compliance Inc

2018 Revenue = $40.141 million
Market share = 40,141,000/14,827,000,000 = 0.003%

Republic services

2018 Revenue = $10.041 billion
Market share = 10,041,000,000/14,827,000,000 = 0.68%


Part
05
of six
Part
05

Healthcare Pest Control Services Sector

The top five companies in the healthcare pest control service sector are Anticimex, Ecolab, Rentokil Initial, Rollins, and Terminix.

Ecolab

  • Ecolab is one of the leading companies in the water, hygiene and energy sectors.
  • The company mainly targets the food processing, healthcare, industrial, hospitality, and oil and gas sectors.
  • In 2018, the company reported revenues amounting to $14.7 billion.
  • Some of Ecolab's key markets include APAC, Latin America, Western Europe, and South Africa.

Anticimex

  • Anticimex is a leader in preventive pest control services, primarily targeting commercial and residential markets.
  • In 2018, Anticimex's revenue was 6.9 billion according to its annual report.
  • The company provides pest control services through the building environment, hygiene, and digital pest control categories.

Rollins

  • Rollins offer pest and termite control solutions. The company offers pest control services and protection against rodents, termite damage, and insects.
  • In 2018, the company reported as revenue of $4.4 billion.
  • Rollins has over 700 locations mainly in APAC, EMEA, and the Americas.

Rentokil Initial

  • Rentokil Initial offers hygiene products and services to reduce the spread of bacteria. In addition, the company maintains and supplies personal protective equipment and workwear.
  • In 2018, the company's revenue stood at $3.2 billion, according to its annual report.
  • Rentokil Initial also installs and services plant displays and also provides site-based facilities. It is known for its global brands Rentokil, Initial, and Ambius. The company's core business includes pest control, hygiene, and workwear.

Terminix

  • Terminix offers termite and pest control services through a chain of subsidiaries in the Caribbean, Mexico, Canada, and Central America.
  • The company is in countries like China, Japan, Southeast Asia, South Korea, Central America, and the Middle East.
  • In the 2018 financial year, the company had a revenue of $1.9 billion.

Your Research team applied the following Strategy:

We were able to locate a pre-compiled list of the top five companies in the healthcare pest control services sector. However, the report from which we got the information had based its research on the size of the market of each company which is behind paywalled. Therefore, we searched for revenues of each company from their latest annual reports. For consistency, we garnered the revenue of each company for the year 2018.
Part
06
of six
Part
06

Healthcare Food Services Sector

The top four companies in the healthcare food services sector serving nursing homes or assisted living facilities include Sodexo, Compass Group PLC, Aramark, and Taher Inc.

OVERVIEW

  • Research by the CHD Expert showed that there are more than 60,500 healthcare facilities in the United States. They include hospitals, rehabilitation centers, clinics, nursing homes, assisted or senior living centers, and other healthcare establishments.
  • According to CHD, within the healthcare facilities in the US, only 39% have self-operated food service operations. Majority of the facilities or roughly 61% are managed by food service management companies, "with Aramark owning 3.2% to the total managed market, Sodexo at 22.4%, and Compass at 7.2%, making up the 'big three'".

Sodexo

  • Sodexo develops, manages, and delivers on-site quality of life services in the fields of health and wellness, community well-being, environment, job satisfaction, socio-economic status; benefits and rewards services, including incentive and recognition, reward solutions, vending and convenience services, and home and personal services which include concierge and in-home care services.
  • The company also improves the health and well-being of employees, students, patients, and doctors through a range of services from construction to reception, sterilization of medical equipment, cleaning, and food services.
  • Sodexo helps people in need of assisted living, independent living, memory care or a continuing care retirement community.
  • The company has about 355,000 Employees.

Compass Group PLC

  • Compass Group PLC serves as a food and support services company in North America, Europe, and globally through its subsidiaries.
  • The company serves business and industry; healthcare and senior living market; education; sports and leisure; and defense, offshore, and remote sectors.
  • The company serves assisted living facilities.
  • Compass Group PLC also provides support services including cleaning in hospitals, managing remote camps, reception services at corporate headquarters, and grounds and facilities services at schools and universities among others.
  • The company has about 600,000 Employees.

Aramark

  • Aramark is a company in the healthcare food services sector. The company is committed to the provision of food, facilities, and uniform services to education, healthcare, business, sports, leisure, and corrections clients.
  • Aramark works through different segments which include Food and Support Services North America (FSS North America); Food and Support Services International (FSS International); and Uniform.
  • The FSS North America segment provides food and facilities services to colleges, universities, schools, hospitals, nursing homes, offices, concert venues, and correctional facilities in North America.
  • The FSS International segment offers dining, catering, and facilities management services to schools, hospitals, nursing homes, office parks and buildings, arenas, stadiums, and correctional centers.
  • The Uniform segment designs, manufactures, and delivers uniforms and work clothes.
  • Aramark has 274,400 employees.

Taher, Inc.

  • Taher, Inc. serves as a healthcare food services company in the United States. The company provides business dining, campus dining, K-12 school lunch management, senior dining, summer camp dining, office coffee, vending, catering, and outdoor education services.
  • Taher serves assisted living facilities such as the senior living home.
  • The company has 2,600 employees.

Research Strategy:

To provide the top 4 companies in the healthcare food services sector, serving nursing homes or assisted living facilities in the United States, we started by reviewing press releases and market reports such as Forbes, CHD Expert, and IBIS World for a compiled list companies ranked based on their market shares. Through this search, we were able to find a source from CHD which provided us with what is considered the "big three" companies in the healthcare food services sector which were involved in serving nursing homes or assisted living facilities in the US indicating their market share. Although these companies offered services to nursing homes or assisted living facilities, they were not listed as the top. This led us to our next strategy.

Our next attempt was to search through US government databases such as American FactFinder, Data.gov, and AAD hoping to find some information regarding the top companies in the healthcare food services sector, serving nursing homes or assisted living facilities to enable us to build a list of the four top companies in that segment. Unfortunately, this source only gave us details regarding the US food management service companies but nothing specific to companies in the healthcare food services sector, serving nursing homes or assisted living facilities.

Due to the lack of direct information, we decided to use the source from CHD as a proxy to finding the top companies in the healthcare food services sector, serving nursing homes or assisted living facilities. We then attempted to build the fourth company by reviewing the top healthcare food services companies in the US. Our aim was to find the top 10 healthcare food services companies and then cross-check to see which of them offered services to nursing homes or assisted living facilities. We searched through industrial reports such as Technavio and Market Watch among others. This search gave us a list of top food management services in the US. Unfortunately, a quick cross-check proved that none of these companies offered services to nursing homes or assisted living facilities.

We then tried triangulating for the fourth company by searching for the top competitors of one of the main companies in the healthcare food services sector Aramark. We were able to find about 10 competitors then reviewed each competitor's products and services to see if they offered services to nursing homes or assisted living facilities. We found one of the top competitors, Taher, Inc., which offered such a service. We then attempted to calculate the market share of Taher, Inc. by looking for the total healthcare food services market size, but this data was unavailable. An attempt to calculate the total healthcare food services market size also proved unsuccessful and all the top 3 companies in the healthcare food services sector did not provide the segmented revenue for food service alone, which made it impossible for us to triangulate the market share of the fourth company.

For the pricing information of these companies, we did thorough research through their company website, annual reports, and press releases but this information was not disclosed. One possible reason for the unavailability of pricing information is due to its confidentiality for the company's competitive advantage.

Sources
Sources

From Part 01
Quotes
  • "The global healthcare education solutions market is projected to reach USD 13.3 billion by 2023 from USD 9.3 billion in 2018 at a CAGR of 7.4%."
  • "On the basis of delivery mode, the healthcare education solutions market has been segmented into classroom-based courses and e-learning solutions. "
  • "The major players in the market include GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips (Netherlands), Zimmer Biomet (US), Stryker (US), Medtronic (Ireland), Canon Medical (Japan), Johnson & Johnson (US), FUJIFILM Holding Corporation (Japan), and Olympus Corporation (Japan)."
From Part 06
Quotes
  • "According to CHD Expert’s data, there are over 60,500 healthcare facilities in the United States. This includes hospitals, rehabilitation centers, clinics, nursing homes, assisted or senior living centers, and other healthcare establishments. Of the healthcare facilities in the country, only around 39% have self-operated foodservice operations. The majority of facilities, approximately 61%, are managed by foodservice management companies, with Aramark owning 3.2% to the total managed market, Sodexo at 22.4%, and Compass at 7.2%, making up the “big three.” Approximately 94% of the hospital landscape participates with a Group Purchasing Organization (GPO) to receive discounts on food purchases."
  • "Of the healthcare facilities in the country, only around 39% have self-operated foodservice operations. The majority of facilities, approximately 61%, are managed by foodservice management companies, with Aramark owning 3.2% to the total managed market, Sodexo at 22.4%, and Compass at 7.2%, making up the “big three.” Approximately 94% of the hospital landscape participates with a Group Purchasing Organization (GPO) to receive discounts on food purchases."
Quotes
  • "Aramark engages in the provision of food, facilities, and uniform services to education, healthcare, business, sports, leisure, and corrections clients. It operates through the following segments: Food and Support Services North America (FSS North America); Food and Support Services International (FSS International); and Uniform. The FSS North America segment provides food and facilities services to colleges, universities, schools, hospitals, nursing homes, offices, concert venues, and correctional facilities in North America. The FSS International segment offers dining, catering, and facilities management services to schools, hospitals, nursing homes, office parks and buildings, arenas, stadiums, and correctional centers in the United Kingdom, Germany, Chile, China, and Ireland. The Uniform segment designs, manufactures, and delivers uniforms and work clothes"